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We have a free Mental Health and Debt guide available for anyone to download so if you're struggling please do take a look!

Has being in debt caused you stress and anxiety?

We're launching a poll to see how many of you have had mental health issues. We've kept responses private so other forum users won't see who's voted in the poll. If you'd like to reply below and discuss that would be great but don't feel you have to.

This is the most powerful word for me over the last few months, and it's brought me freedom and significantly elevated my mood.

For years and years, I have denied the fact that I had a problem with gambling, and for years and years I've denied that my finances and life pretty much was out of control.

I now work the 12-step addiction program, and in doing so I have learnt many things about myself and also gained a lot of tools to aid my daily life through interaction and mainly listening to feelings and experiences from other people who suffer the same illness.

The BIGGEST tool for me has to me acceptance, by accepting that I am a compulsive gambler, and that I have an illness that can be arrested but not cured, by accepting that my financial position is now very poor, and it's going to take a long time to sort out, with acceptance comes peace and serenity. I no longer have internal battles with myself, I talk about my issues, I open up and share my thoughts and feelings with people. I've stopped living in denial, and once I accepted my position, I was able to constructively do something about it.

Yes my DMP is currently due to run until 2033, but that's OK, my life is now more manageable, I have the money for the things that I need to get and I don't waste money. Everything is budgeted and YNAB has been absolutely fantastic in helping me turn things around. You can't handbrake turn an Ocean Cruise Ship, but it will turn round eventually, if you steer it in the right direction.

I'm now 6 months into my Debt Management Plan, I'm still on medication for depression and anxiety, but my life is getting much better. I really hope that once I come of my meds in between Feb and April, things will continue to improve.

I use the serenity prayer to help me accept things....

God, grant me the serenity to accept the things I cannot change, the courage to change the things I can, and wisdom to know the difference.

This helps me to identify the things that stress me out that in fact I can do nothing about in the short term, so I work on accepting them, and things get easier to deal with, my thoughts go from washing machine, to calm sea.

One day at a time

Hero

Just for today I will not try to solve all my life problems at once. | DFD: April 2033Aug 2023
Original Debt: £96K Mar 2016 | Current Debt: £50000 Apr 2018

This is the first time I have shared my debt story. I am frightened everyday of being found out,
Since a double transplant operation two years ago I have suffered with anxiety and depression. This manifested through sending money online to medicate feeling of isolation and a sense of mt impending possible demise. I spent money on lots of things, never wanting to be the one to say no, and in making a new, but run down, house comfortable.

I am about £20,000 in debt. I am with a debt management company but am struggling with repayments and the orospect I will rake 20 years to pay this off.

They advised an Iva but I had ine before and struggled to get my mortgage. My husband foes not know and I am terrified of him finding out. To the point where I am terrified of dying, not because I'll be dead, but because I will leave him with this.

I teach full time and tutor to help pay things, but with my health I'm not sure how long I can do this for. Life insurance won't even cover me because of my condition so I am frightened of losing my home.

Hi Im so new to all this so sorry guys !
I have 2 defaults on my credit file,both from the same firm Arrow Globle back in 2013.
At the time I was unaware of spending because I was in a manick state. It was only a few months after that I was diagnosed with bipolar disorder and sectioned.
Im alot better now as Im on medication.
If I send copies of doctors letter etc and send them off with a cover letter explaining would I stand a good chance of getting them removed. I want to try but dont know were to start.
Thanks

Hi. I have moderate/severe recurrent depressive disorder and anxiety. I've had it, to varying degrees for years. In that time I've amassed a huge amount of personal debt and have been on a DMP for 8 years now.
I've mentioned my MH problems to my creditors in the past, but they've said 'I'm sorry to hear that' and moved on. My spending took place during low periods, to attempt to cheer myself up and during the rather hyper (not manic) periods I get prior to a crash.

Unfortunately my marriage ended last year and I lost my job due to unsatisfactory attendence. I've not informed Payplan yet. I'm currently on benefits.

Is it worth me getting one of these forms? I don't really know much about them tbh.

One of the biggest contributing factors to depression and stress that I found in my situation was hiding the facts from loved ones. Being brave and opening up was the best thing that I could have done, as they now support me rather than carry on with no idea why I was feeling low.

Just for today I will not try to solve all my life problems at once. | DFD: April 2033Aug 2023
Original Debt: £96K Mar 2016 | Current Debt: £50000 Apr 2018

I have always been bad with money. From the age of 18 I had a credit card and just fell into the mindset that it was almost free money. I do blame the way that I was invariably brought up by my parents as I was never made to wait for anything or save for anything it was always handed to me on a plate, therefore (although I take full responsibility as an adult) I never really knew the true value of money. I got myself out of debt, bought a house the relationship broke down and I got into debt. I seem to spend money like water when I am miserable yet when I am happy I will save and be really careful. I have battled with anxiety with further relationship breakdowns and the pattern is the same. This time, new relationship, living on my own with my 3 children and I am finally in a place where I am accepting full responsibility for my money problems. I manage no matter how much debt I am in and how many bills I have to pay to give my children £5 a week which I MAKE them save. They are allowed it if they want it but they know that once that £5 is gone it is gone. If I take them into a shop with £5 and I say they can have something I don't so much as go one penny over that allowance. It has really made them stop and think about what they are doing with their money and they are only 10, 6 and 4. I cant press enough to anyone with young children just how important I have found this to be.

Rochdale Guy please get help. Nothign is ever so bad that you can't get through it, but ask for help - from professionals like Stepchange debt charity, on here, your doctor and there is something called CALM the Campaign Against Living Miserably aimed at men (see adverts on bus stations etc.

Rochdale Guy please get help. Nothign is ever so bad that you can't get through it, but ask for help - from professionals like Stepchange debt charity, on here, your doctor and there is something called CALM the Campaign Against Living Miserably aimed at men (see adverts on bus stations etc.

Hi all I felt compelled to write a post as a Car accident in August 2015 has left me in terrible debt. The most frustrating thing for me is my Solicitors and the Third Party Insurer are being so slow to get/pay me an interim payment for loss of earnings and medical expenses. The driver accepted liability, the loss of earnings have all been proven and confirmed and a specialist has agreed my injury's caused by the accident made it not possible for me to work. This was all confirmed last year and yet I cannot get any of the significant money they owe me. This week I am going to have to go into debt management plan which will severely impact my ability to work in my field (FS) in the future as it will impact my credit file. Basically my life is ruined purely down to the accident and the time it is taken to get any money. I am not interested in getting the compensation yet just the losses I have incurred. This is so unfair as in other countries the third party insurer has to settle really quickly once liability has been agreed. I would love Martin Lewis to take up this issue as it has had a severe impact on my Mental Health and my stress levels are through the roof. I have never even been late with a payment in my entire working life and now through no fault of my own my credit score is going to be destroyed and I cannot work due to constant back pain. Any advice would be really appreciated.

My mood gets low thinking about my debt at times, but this is a massive improvement. And so my tale begins...

When I was 6, I attempted to take my own life. The doctors told my parents that I was "too young to be depressed", and that I was basically seeking attention. Between that day and today, I have made over 100 attempts to take my life...thankfully (and rather obviously!), they were all unsuccessful.

When I was 15, I was FINALLY referred to CAMHS, where I eventually received two diagnoses:

1. Cyclothymia
2. Borderline Personality Disorder

Spending was my crutch when I was depressed, but it was also my exhilaration when I was manic. When I was down, buying things comforted me. The feelings never lasted long though, and so I would continue to buy until I got to the point of (what I saw as) no return. When I was manic, no-one could touch me. I was a goddess. My creditors couldn't touch me, because I was untouchable. They knew who I was, and they wouldn't even attempt to ask me to read a single penny...it would be sacrilegious, after all.

I am very lucky in that I met my super-supportive husband, who has helped me over the years to repay a large portion of debt (as I have helped him) - it's always been a joint effort with us. Until I got seriously ill again, and could no longer work. Then, I couldn't pay as much off. Then, payments starting defaulting. Then, my husband lost his job, and had to take a substantially lower-paying job to keep us afloat.

It was February 2017, when my friend told me to look into a DMP with StepChange DC. She had gone bankrupt some years previously, and offered me support with the process of setting up a DMP. On 1st March, my first payment went out.

Don't get me wrong, I'm always going to be Cyclothymic, and I'll always have BPD. But the sheer FREEDOM of knowing I am FACING things (at long last!) is my true exhilaration. I know that I have a long, hard road ahead of me. I know that my illnesses could try to get me to be out-of-control again, but they won't win. I'm the winner here, for I have taken responsibility, with the support of my husband, best friend, and the lovely lot here at DFW.

My mental health will always be a large part of my life, but debt won't!

Hi I too thought I'd share my experience. My story started 2006. My husband was killed in an accident at work I was 22 at the time with a fulltime job and 2 young children. Following this I had severe depression and anxiety for years waiting for court cases etc.
Then I entered another relationship and had received the payout from his death. My sister then passed away again I coped keeping busy dealing with the sale of her house and other issues.
It was only when my life was OK it finally spiralled out of control. I was referred to a psychiatrist who originally diagnosed my with ptsd.
My spending was soooooo stupid I went from money in the bank to 30k in debt. I remember sitting in a traffic jam when someone passed me on a scooter mmmmm. I went out the next day and bought a scooter???? Which sat in the garage for 8 years as I was too scared to ride it. I purchased 3 settees in 12 month 2 new cars. I was so impulsive.
Still dealing with the mental health issues I eventually got diagnosed bi-polar. With the correct medication And support from the mental health team. I took stock of my life and split up with my partner as the relationship wasn't right.
I then had to tackle my debts which was the scariest thing ever. I am now on a dmp and will be for about another 26 years.

Hi everyone,
This is my first post here.
I found this thread via a google search on depression and debt.

A little bit about me.
I am nearly 39 years old, I live on my own with my two cats in a flat that is shared ownership. Over the past 4 years I have managed to accumulate just over £10K worth of debt between credit cards and a loan, just over half of this over the last year.
I was finding work hard going and wasn't enjoying it, I found a new job, which I absolutely love however I took a pay cut to move there, thinking I would be able to deal with my finances, it has proven the wrong decision financially and I have been struggling since. I didn't take into consideration the distance travelling to my new job is 36 miles further meaning more petrol each month as well.

I was diagnosed with Depression and anxiety in 2015 however through counselling I realise I have more than likely been suffering with these undiagnosed since my early teens. It has only been in the last week or so when I felt the depression and anxiety come flooding back in mostly due to my money worries. I am also one for when I get depressed I spend spend spend. It makes me feel good for a little while then I realise what I've done and I've no way of paying it all off.

I have spoken with my parents and I am lucky in that they are taking out a very low rate loan for me and will be helping me to deal with the fall out of my actions. I have cut up my credit card and have cancelled my overdraft with money they have given me just now. I will be repaying them every penny they have borrowed for me.
I am also currently job hunting for a job that is
1. Closer to home
2. Better salary
3. Better hours
I will be sad to leave my current work place but I have to do what is right for me.

Ive had severe depression for the best part of 9 years and have gone from debt free to a 20k loan for 5 years to consolidate my debts at a rate of 12.9% fixed with a major bank, Im not sure if I could of got a better deal, does anyone have any advise out there in "Forumland" ?

Can anyone advise on whether it is possible to get council tax benefit back dated due to mental health problems.
My sister is in hospital at the moment and I am trying to sort out her debts, most of which is unpaid council tax. This would have been halved if she had been able to claim the benefit but due to her illness everything was just left.
Most annoying thing is housing officer told me last year she would get nothing, I put in a claim this year just to see if she would and it has just about been halved.

Hi I am very depressed since I have found out that my husband who has bipolar disorder has run up massive debts which are linked to our mortgage and I was unaware of this. I want to dispute these debts and would like to know what to do.

Your honesty... All of you, is wonderful,
Reading your posts has given me some comfort.
Despite the Mental Health awareness program....there is a lot to be done in promoting people's self confidence and building opportunities.
It feels to me personally that our governments benefit system when ill, is not regarded as an insurance system for our welfare that we pay into..but as a penalising system.
I want opportunity and hope!
I have severe depression....and am getting some great support.
I am now in the process of transferring from ESA to Universal Credit.
I find this terrifying!
I rent....have just won, I hope, my security after a Section 21 notice to leave, due to delayed Housing Benefit...and now have to inform my landlord that Universal credit can hold things up again!
He has to survive...and I do too.
5-6 weeks payment, is disgraceful on it's own, but compound that with no over-run when working again, to be paid monthly, in arrears,
And an bills, and an empty fridge....why are paying tax?
....sorry...but feeling hopeless
I really hope our Government produces opportunities which (are fiscal...but ), provide hope, no more restraining please.

I feel less alone after reading some of these posts, but sad for all the stories of hardship.
I am in my early 40s and I have had depression since childhood. Parents split up when I was 3. My mum died when I was 25 and my dad died this May. I have always struggled with money management. Spending gives a moment of happiness. When DS was born 10 years ago we decided to move closer to dad to help him and wanted DS to have family around him growing up. Turns out dad was a textbook narcissist and we had a stressful time living so close.

I've had counselling four times through my life, the most recent being through MIND and it has helped me a great deal.

Debt has made me have terrible bouts of anxiety. I chew my tongue till it hurts, I pull my hair out, and I clench my jaw. Debt prevents me from relaxing. It affects my sleep, and I become obsessive about money. I have spreadsheets, charts, apps, but without willpower it's a huge struggle to stay in control. I get low when I think how tight things are, and blame myself, then my optimistic self sees a positive side and I spend again. To put things right I would literally need a carer by my side every day.

We're moving next month. Fresh start. Friends are the family we would choose.

I feel i already suffered with anxiety from life in general, but debt just recently has put me on edge.

When i was a student i had my first debit card, and as soon as I saw +£1500 available (as interest-free overdraft) i splashed out on whatever a typical student would do, alcohol, clubs and eating out. Obviously looking back i could have budgeted better but at the time nobody told me the effects it would have or what an overdraft meant, for all i knew it was part of my loan that I won't have to pay back until earning over 21k.

Now feeling the effects of impulse buying, gambling, and fallen through the cracks of a flawed welfare system (to the point, been sanctioned for over 6 months), i've gone to the point of having no income, almost £2k in overdraft and interest is starting to stack on, with mental health issues meaning most jobs won't be suitable for me even if I were really desperate for one i'd hate to work in.

1st scenario: My bank will sit back and leave my account alone until I have a job and work out a DMP
2nd scenario: I will be able to get my overdraft written off, because I have nothing of value in the event a bailiff notice arrives. Only things of value are my computer and random accessories which may not even be worth anything.
3rd scenario: My family finds out that i'm in deep amounts of debt that they will have to pay towards it, which is the worst case for me.

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